Bankruptcy Fee Examination

Bankruptcy cases generate exceptionally high legal fees, and rates continue to rise every year. This is due in part to the specialized nature of bankruptcy practice. But it is also the result of less-than-rigorous application of litigation management best practices and reliance on exorbitant past rates as a basis for current billing.

LFS can help manage and contain the spiraling costs of today’s complex bankruptcies. Our attorneys are knowledgeable about the guidelines for allocation and recovery of bankruptcy fees, and the unique day-to-day activities of bankruptcy timekeepers.

We work with both creditors and debtors to adopt bankruptcy management best practices. When brought on board early, LFS can vet proposed counsel and vendors, negotiate hourly rates and staffing models, and establish clear work assignments from day one. Moving forward, LFS can code and analyze invoices to assess reasonableness of legal fees and suggest changes as necessary.

We have experience working directly with courts to help keep overall legal expenses to a minimum. As court-appointed fee examiner, we review bankruptcy fee requests from attorneys, financial advisors and other experts or professionals, and provide award recommendations to the court. We have performed fee examiner duties in connection with some of the largest bankruptcies on record. As bankruptcy fee auditor, we support the work other court-appointed examiners by conducting a thorough review of fee requests and submitting fee recommendations.

Our primary bankruptcy fee examination services include:

  • Negotiate hourly rates, alternative fee arrangements and discounts
  • Create budget projections
  • Establish workflow and work scope agreements among timekeepers
  • Code and analyze billed hours
  • Reconciling interim and final fee applications to actual invoices
  • Assess fee requests in light of U.S. Trustee Fee Guidelines, legal precedent and industry norms
  • Issue reports with exhibits to fee applicants and courts on compliance and reasonableness
  • Testify in bankruptcy hearings on fee issues
  • Resolve areas of concern or dispute 

[844] 726-4204

LFS is a consulting firm and does not practice law.

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